California Existing Homes in October: Sales Down 7.9% YoY, Inventory Up 28%

The CAR reported: Homebuyers continue to wait it out in October as market uncertainties linger As market uncertainties continue to linger, California home sales declined for the sixth straight month in October and remained below the 400,000-level sales benchmark for the third consecutive month, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 397,060 units in October, according to information collected by C.A.R. from more than 90 local REALTOR® associations......(read more)

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